Elma, IA is a small city located in Iowa with a population of 559 people. The cost of living in Elma is quite affordable given that the median rent for a two bedroom apartment is only $810 per month; much lower than the national median of $1,430. Additionally, the Grocery Cost Index in Elma is 92 which is 8 points lower than the US average. Notable local companies in Elma are H&M Manufacturing, Filerimos’ Food Service, and K & D Enterprises. There are plenty of recreation activities available such as camping at nearby Lake Meyer and hiking at Pilot Rock Park. It's no wonder why so many people choose to call Elma home.
Elma has an unemployment rate of 4.8%. The US average is 6.0%.
Elma has seen the job market decrease by -0.7% over the last year. Future job growth over the next ten years is predicted to be 16.2%, which is lower than the US average of 33.5%.
Tax Rates for Elma
- The Sales Tax Rate for Elma is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Elma is 9.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Elma
- The average income of a Elma resident is $24,307 a year. The US average is $28,555 a year.
- The Median household income of a Elma resident is $28,750 a year. The US average is $69,021 a year.